100 Park PlPainesville, OH 44077

  • Office properties
  • 198,276 SF
For Lease
$9/SF/YR View listing

Property Details for 100 Park Pl

Year built
1973
Lot size
1.84 AC
Property size (Sq ft)
198,276 SF
Zone code
B-3
Property type
Office properties
Property subtype
Office buildings
APN
15-C-001-0-00-001-0
APU
15C0010000010

Description

This exceptional three-story commercial building, situated in the heart of Painesville, Ohio at 100 South Park Place, presents a unique opportunity for multiple tenants. Boasting approximately 191,000 square feet of rentable space, this Class C property offers a diverse range of unit sizes to accommodate various business needs. Built in 1973 and zoned B-3, the building features convenient freight and passenger elevators, ensuring easy accessibility for both tenants and customers. A rear loading dock further enhances operational efficiency. The property sits on a 1.75-acre lot (APN: 15C0010000010, Lake County) and is ideally suited for a mix of uses, including restaurants, professional offices, art studios, fitness centers, coffee shops, yoga studios, hair salons, and other retail establishments. The owner is willing to collaborate on build-to-suit projects for qualified tenants, offering a high degree of customization and flexibility. One space is currently available. This is a full-service property in a vibrant downtown location.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $35,669,836
    6.5%
    $32,926,002
    7%
    $30,574,146
  • Comparable approach

    Method
    Valuation
    Relative Method
    $18,546,738
    Geo Method
    $18,546,738
  • Alternative Use

    Use
    Valuation
    Residential
    $40,828,244
    Hospitality
    $37,398,452
    Educational
    $31,115,072
    Medical
    $32,185,168
    Retail
    $48,401,224
100 Park Pl, Painesville, Ohio

Location Insight

City
Painesville
County
Lake
State
Ohio
Latitude
41.7246
Longitude
-81.2426
CBSA code
17460
CBSA name
CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$12,124
$35,000
$78,750
$113,750
-
$100,000
$225,000
$325,000

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